WASHINGTON, D.C.—U.S. Chamber Executive Vice President and Head of International Affairs Myron Brilliant issued the following statement in response to news that the Trump Administration will not impose tariffs on goods from Vietnam:
“The U.S. Chamber welcomes the news that the Trump Administration will not impose tariffs on goods from Vietnam. We have been steadfast in our opposition to this move since the announcement that it was under consideration. Trade actions are an inappropriate means by which to address currency valuation questions. The precedent set forth in the U.S. Trade Representative’s report was worrisome to our members.
“Not only does Vietnam not meet the U.S. government’s criteria for currency undervaluation, the increase in U.S.-Vietnam trade is a direct consequence of the tariffs the U.S. has imposed on China. Responding with additional tariffs never made sense.
“Above all, the business community strongly encourages the United States to foster a closer strategic and commercial partnership with Vietnam as that country grows in importance as a commercial market.”